Gold spot traded in a pattern of gapping up, surging to a record high and then oscillating lower today. During the Asian session, safe-haven buying was triggered by the U.S. imposing additional tariffs on Europe, sending prices to an intraday peak of $4,690.85 per ounce. Profit-taking then drove a pullback, with the price now consolidating around $4,660 per ounce. The bullish structure remains intact, and the core intraday tussle is centered within the 4,650–4,690 range.
Key Support & Resistance Levels:
Support Levels
4,650–4,655 (Strong Support): Confluence of intraday lows, the 5-day moving average and the lower edge of the price gap, with effective buying interest confirmed on multiple retests.
4,630–4,635 (Medium Support): Lower boundary of the consolidation range, acting as the secondary defensive level for bulls.
Resistance Levels
4,680–4,690 (Strong Resistance): Confluence of intraday highs and record high resistance; a decisive breakout requires significant volume.
4,700–4,710 (Medium Resistance): Psychological round-number level plus previous congestion zone, exerting marked downward pressure.
Trading Strategy:
Buy 4650 - 4655
SL 4645
TP 4680 - 4690 - 4700
Sell 4680 - 4685
SL 4690
TP 4655 - 4640 - 4640
Core Drivers & Risk Warnings:
Drivers: Concerns over trade wars fuel safe-haven demand; growing doubts over the Federal Reserve’s independence; debt concerns catalyze currency depreciation trades.
Risks: Overbought conditions trigger a deep pullback; de-escalation of geopolitical tensions; U.S. dollar strength.
Key Support & Resistance Levels:
Support Levels
4,650–4,655 (Strong Support): Confluence of intraday lows, the 5-day moving average and the lower edge of the price gap, with effective buying interest confirmed on multiple retests.
4,630–4,635 (Medium Support): Lower boundary of the consolidation range, acting as the secondary defensive level for bulls.
Resistance Levels
4,680–4,690 (Strong Resistance): Confluence of intraday highs and record high resistance; a decisive breakout requires significant volume.
4,700–4,710 (Medium Resistance): Psychological round-number level plus previous congestion zone, exerting marked downward pressure.
Trading Strategy:
Buy 4650 - 4655
SL 4645
TP 4680 - 4690 - 4700
Sell 4680 - 4685
SL 4690
TP 4655 - 4640 - 4640
Core Drivers & Risk Warnings:
Drivers: Concerns over trade wars fuel safe-haven demand; growing doubts over the Federal Reserve’s independence; debt concerns catalyze currency depreciation trades.
Risks: Overbought conditions trigger a deep pullback; de-escalation of geopolitical tensions; U.S. dollar strength.
トレード稼働中
Our morning forecast for the gold price movement was a perfect match with the subsequent market action. The session overall saw a trend of rally, pullback and consolidation, with price action oscillating firmly within the 4650–4690 range throughout the day
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免責事項
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